The 2012 annual report of PepsiCo shows the following information: (dollars in millions)

REQUIRED:
a. What does the financial statement presentation tell you about the recent business activities of PepsiCo and related bottling companies?
b. Provide the Journal entry to record affiliate net income in 2010.
c. How many cash dividends did PepsiCo receive from bottling companies in2010?

Transcribed Image Text:

2012 2011 2010 Consolidated Statement of Income Bottling equity income Consolidated Statement of Cash Flows Bottling equity income, net of dividends $735 $42